Kovack Advisors Inc. Grows Holdings in Datadog, Inc. (NASDAQ:DDOG)

Kovack Advisors Inc. raised its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,899 shares of the company’s stock after purchasing an additional 100 shares during the quarter. Kovack Advisors Inc.’s holdings in Datadog were worth $700,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Jennison Associates LLC raised its position in shares of Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after purchasing an additional 3,005,300 shares during the period. Baillie Gifford & Co. increased its stake in Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after buying an additional 1,484,562 shares in the last quarter. Holocene Advisors LP raised its holdings in Datadog by 205.2% during the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after acquiring an additional 1,097,815 shares during the period. Champlain Investment Partners LLC purchased a new position in shares of Datadog in the third quarter valued at about $52,561,000. Finally, Eagle Asset Management Inc. boosted its stake in shares of Datadog by 72.4% in the third quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock worth $113,844,000 after acquiring an additional 384,121 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insider Transactions at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $142.78, for a total value of $18,148,051.90. Following the transaction, the chief technology officer now owns 324,778 shares of the company’s stock, valued at $46,371,802.84. This trade represents a 28.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Kerry Acocella sold 2,488 shares of Datadog stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total transaction of $393,203.52. Following the sale, the general counsel now owns 68,758 shares of the company’s stock, valued at $10,866,514.32. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 556,674 shares of company stock worth $82,904,025. 11.78% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Scotiabank decreased their target price on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. Rosenblatt Securities lifted their price objective on shares of Datadog from $148.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Stifel Nicolaus lowered shares of Datadog from a “buy” rating to a “hold” rating and dropped their target price for the stock from $165.00 to $140.00 in a research report on Wednesday, January 29th. Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a report on Thursday, November 7th. Finally, JMP Securities reissued a “market perform” rating on shares of Datadog in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $158.70.

Datadog Price Performance

Datadog stock opened at $113.53 on Friday. The firm has a market capitalization of $38.57 billion, a P/E ratio of 222.61, a price-to-earnings-growth ratio of 44.03 and a beta of 1.15. Datadog, Inc. has a 1-year low of $98.80 and a 1-year high of $170.08. The company’s 50-day moving average is $139.17 and its 200 day moving average is $131.71.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. Research analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Datadog Company Profile

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products comprise infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, data streams and universal service monitoring, network monitoring, incident management, workflow automation, observability pipelines, cloud cost and cloud security management, application security management, cloud SIEM, sensitive data scanner, and CI visibility.